In many types of subsea operations, rotary actuated valves are used to control a fluid flow. A rotary actuated valve system comprises a valve coupled with an actuation system which includes a flag or other position indicator to indicate valve flow position. The valve position indicator is mechanically moved in correspondence with the flow position of the valve to provide a visual indication of the valve flow position. If movement of the valve position indicator is sufficiently restricted, a shear pin or similar one-time failure point disengages the valve position indicator to enable continued use of the valve actuation system. Subsequently, however, the valve position indicator becomes permanently disabled unless the rotary actuated valve system is retrieved to the surface to replace the shear pin or other failed component.